Regulatory Alerts2015-10-23
Added · Updated
Implementation of Enhanced Competency Framework for Private Wealth Management Practitioners
The Hong Kong Monetary Authority updates registered private banks on the phased implementation of the Enhanced Competency Framework for Private Wealth Management practitioners. The circular mandates that institutions ensure relevant staff complete at least 10 hours of annual professional training and expands half-yearly surveys to monitor this ongoing development. Additionally, the regulator provides guidance for accrediting in-house training programs while continuing to supervise banks' compliance with the framework's competency benchmarks.
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